AS/NZS ISO 31000:2009
The AS/NZS ISO 31000 was prepared by the Joint Standards Australia/Standards New Zealand Committee of Risk Management as a revision of AS/NZS 4360:2004. It provides a generic framework for establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk (AS/NZS ISO 31000:2009, p.14). It is also considered one of the most important documents regarding Risk Management available globally.
The standards and information provided in the AS/NZS ISO 31000: 2009 is not part of government and are not laws, regulations or even legal documents; however, because of their rigour, they are called up into legislation by government and often become mandatory. This is a decision made by the elected government at the time, and not the AS/NZS ISO 31000: 2009. The standards are developed regularly and can be incorporated into legal documents.
The Australian Standards/New Zealand Standards International Organization of Standardization 31000: 2009 is one of the most widely used and well encorporated Risk Management Standard around the world and has been adopted by 163 countries (currently, as of 2010).
The AS/NZS ISO 31000:2009 was developed in order to supercede the AS/NZS 4360 2004 as part of the International Organisation of Standardization committment to maintain currency of its Standards in Risk Management. Many of the concepts found within the AS/NZS ISO 31000: 2009 are directly taken from the AS/NZS ISO 4360:2004; however, there have been some improvements and additional clarifications.
Where can I find the AS/NZS ISO 31000:2009?
The AS/NZS ISO 31000:2009 can be purchased on-line through the SAI Global Online Store. I believe it costs about $100 to download and an additional $15 to be mailed out in booklet form (although, this was how much it cost me previously, I cannot be certain how much these cost currently).
How Does the AS/NZS ISO 31000: 2009 Compare to Standards in Risk Management Overseas?
The AS/NZS ISO 31000: 2009 is the most published Standard on Risk Management, with over 163 different countries adopting the Standards as the best practice in Risk Management at last count. There are other Standards available on the topic of Risk Management. AS/NZS ISO 31000 in many ways. The risk management process along with all the contributing factors are tabled and explained. The IRM document explains the risk estimation procedures and provides clear tables of easily understood information on the probability of occurrences, threats and opportunities (IRM 2009, p.2). It categorises these factors into risk categories ranging from Low, Medium and High (IRM 2009, p17). The Australian documentation section provides similar information, but in many ways is more readily understood. This is because the IRM document needs to refer to legal requirements for policy statements due to the fact that these documents are not legislation, but may in time become legislation. The IRM document also focuses heavily on the role of the internal auditing process (IRM 2009, p.4). The IRM Risk Management Standard is more readily available to all organisations and individuals because the IRM is a non-for-profit organisation, and provides this product free to download.
The South African Bureau of Standards (SABS) is a body that was established in 1945 as a direct result of an act of parliament and continues to update current standards (SABS 2010, p.1). SABS has members appointed by the Minister of Trade and Industry and have many objectives. These include the issuing of National Standards and obtaining membership of Foreign and International Bodies that have similar objectives. A large difference in this format and other standards found globally is the involvement of public enquiry in its design. For example, a new draft Standard is made available for public comment both nationally and internationally, during a period of public enquiry. A comment period of sixty days is normally required and a thirty-day comment period applies in the case of adoptions. The comments are received and then are reviewed. If no comments are received, or technical changes needed, the standard is deemed to be approved and is forwarded to the Standards Approval Committee for ratification. After ratification, the document is released for publication. With this focus on health, safety and the environment the basis for legislation is provided (SABS 2010, p.15).
The American system and documentation of standards is written more as a strategy and a long term plan that looks to the global future than just a focus on risk management today. The United States Standards Strategy (USSS) is a revision of the National Standards Strategy for the United States (NSS). The first NSS reaffirmed that the United States (U.S.) is committed to a sector-based approach to voluntary standardisation activities, both domestically and globally. It established a standardisation framework that was built upon the traditional strengths of the U.S. system, such as consensus, openness and transparency. It also provides additional emphasis to speed, relevance, and meeting the needs of public interest constituencies (USSS 2010, p. 8).
The South African Bureau of Standards (SABS) is a body that was established in 1945 as a direct result of an act of parliament and continues to update current standards (SABS 2010, p.1). SABS has members appointed by the Minister of Trade and Industry and have many objectives. These include the issuing of National Standards and obtaining membership of Foreign and International Bodies that have similar objectives. A large difference in this format and other standards found globally is the involvement of public enquiry in its design. For example, a new draft Standard is made available for public comment both nationally and internationally, during a period of public enquiry. A comment period of sixty days is normally required and a thirty-day comment period applies in the case of adoptions. The comments are received and then are reviewed. If no comments are received, or technical changes needed, the standard is deemed to be approved and is forwarded to the Standards Approval Committee for ratification. After ratification, the document is released for publication. With this focus on health, safety and the environment the basis for legislation is provided (SABS 2010, p.15).
The American system and documentation of standards is written more as a strategy and a long term plan that looks to the global future than just a focus on risk management today.